Forms of business Essay Example | Topics and Well Written Essays - 750 words

Forms of business - Essay Example There are no consultations involved in the decision making process. Moreover, tax preparation process is very easy since the business is not taxed separately and the tax rates are lowest of the business structures. According to Pride, Hughes & Kapoor (2012), owners of the business are always free to mix business or personal assets. Unfortunately, sole proprietorship involves unlimited personal liability since there is no legal separation between the owner and the business. The owner of a business can be held responsible for the debts and obligations of the business and the risk extends to any liability incurred by employee actions. Raising capital for sole proprietor is always not easy because stock in the business cannot be sold and the investors cannot invest in them. Additionally, sole proprietorship seldom survive the death or disability of the owners Partnership Partnership involves relationship between two or more people coming together on a trade and every person contributes m oney, property, labor, or skills. It is also worth noting that every partner shares in the profits and losses and as much as it is strongly recommended, it is regarded very risky to operate without. There are three types of partnership arrangements including general partnerships, limited partnerships, and joint ventures. General partnership requires that profits, liability and management issues are equally divided amongst the partners and incase of unequal distribution, the proportion set is documented in the partnership agreement (Pride, Hughes & Kapoor, 2012). On the other hand the limited partnership enables partners to have limited liability d input as far as management decisions are concerned and the limits are based on each partner’s investment portion. Finally, the joint venture work almost like the general partnership but is always active for a short period or may be for a single project. Partners include their individual share of income or loss on their personal tax returns and their taxes generally are annual return of income, employment tax, and estimated tax. Partnership involves shared financial commitment due to the advantage of pooling resources to obtain capital and this may help in securing credit. Furthermore, partnership involves complementary skills derived from the partners’ strengths, resources, and expertise. Partnership may also attract highly motivated and qualified employees due to incentives such as offering opportunity to employees to become members. However, joint and individual liability acts as a disadvantage where partners are liable for their own actions and for business, debts, and decisions made by other partners and the personal assets for partners may be used to satisfy the partnership debts. Decision making process may also not be easy exposing partners to disagreements amongst partners. Corporation Corporation is a complex form of business and is an independent legal entity that is owned by shareholders and is held legally liable for the actions and debts of the business. Incorporating corporations is very costly due to the administration fees, complex tax and the legal requirements making it suitable for established and large companies. According to Pride, Hughes & Ka

Media Convergence Essay Example for Free

Media Convergence Essay What is meant by the term media convergence with regard to technology, and how has it affected everyday life? For technology, media convergence is when different media come together to do a similar task. The poster child for this is the smart phone. Smart phones are used to talk, text, email, social network, school, business, web browsing, and take picture and video. There are things that I’m sure I missed, but the smart phone has become the epicenter of technological convergence. I spend a lot of my time on my phone posting and promoting for my business. I make jewelry, cat pads, and blankets so I make my items, take a picture, post it to my Etsy page, and promote my store with my phone. When I get an order, I get an email to my phone I contact the buyer for details, and take payments all with my phone. With going to school, I need to check up on the forums to read and respond per class requirements. It makes it easy to do my schoolwork when I’m not home at my laptop. I can pull up the reading for the class on my document reader on my phone and catch up while I’m out and about. I have a six month old and I love taking his picture! I take his picture and post it on Facebook, Instagram, and send it to my family. My family lives in another state so I use my phone to do FaceTime with them so we can see each other all the time. The smartphone has made productivity so much easier because it’s all in one place and instant gratification is satisfied. For some people, the smartphone has become a big distraction and a burden. I think that cell phones, in general, have done damage to people’s grammar and spelling. They use shorthand and abbreviations for words and have forgotten the rule of your and you’re because they are using the shorthand ur. It’s sad.

Business Strategies Of Mc Donalds Marketing Essay

Business Strategies Of Mc Donalds Marketing Essay The main objective of a business strategy is to provide superior value, differentiation, and core competencies for a company that has clear missions, goals and objectives that are important and necessary to the strategic formulation of a company. The mission is a quality definition of who the company is and what it expects to accomplish, further defined by goals and objectives. Goals are directly linked with the mission and are general statements of desirable outcomes. Objectives are goals or purpose with specific targets and time periods. We will further discuss in detail of how these missions, goals and objectives are so important in the formulation of Business strategy. Strategic management The way in which employees are managed to maximize the potential of achieving business objectives is called Strategic Management. It has a very positive impact on a business and can significantly improve its growth only if Strategic management is effectively used. It is all about formulating strategies and the key to making it work for the business. McDonalds McDonalds is the leading global foodservice retailer with more than 31,000 local restaurants serving more than 58 million people in 118 countries each day. More than 75% of McDonalds restaurants worldwide are owned and operated by independent local men and women primarily selling the world some of its favorite foods World Famous Fries, Hamburgers (Big Mac, Quarter Pounder, etc), Chicken McNuggets, Egg McMuffin, milkshakes, hot drinks, desserts and most recently also offer salads and fruits. Their rich history began with our founder, Ray Kroc. The strong foundation that he built continues today with McDonalds vision and the commitment of our talented executives to keep the shine on McDonalds Arches for years to come. The History of McDonalds The McDonalds restaurant chain of today began its humble beginnings in a renovated barbecue car-hop restaurant in San Bernardino, California by two brothers, Richard and Maurice McDonald. Dick and Mac left their Manchester, New Hampshire home and headed to California for work after graduating from high school. Mac and Dick borrowed $5000.00 and opened a barbecue drive-in close to a high school in 1940. They hired attractive carhops and offered a menu of 29 items. Business boomed. Families came for the low prices and teens came to check out the carhops. By 1947, the restaurant was losing business. Families were getting more concerned about their finances and the teens seemed to be more interested in hanging out than in purchasing food. Dick and Mac took notice of these changes in clientele and noticed hamburgers made up 80% of all food sales. They decided to close the restaurant and reorganize. The restaurant was reopened in mid December of 1948 as the first self-service, assembly line, and drive-in offering 15 cent hamburgers, 19 cent cheeseburgers, 20 cent malts and 10 cent fries. By 1952 the business was booming. The brothers had purchased 8 mixers for their milkshake production and ordered two more. This purchase caught the attention of the owner of the Multi-mixer, Ray Kroc and changed the history of McDonalds. Ray noticed that this hamburger stand continued purchasing from him and he decided to go check it out. Ray was very impressed with the McDonald brothers self service concept and their booming business that now included a few franchises. He made a proposal to expand their business across the country with himself supplying the Multi-mixers. The brothers were not interested in becoming so large but did agree to give him exclusive rights to the McDonald system. Kroc opened his first franchise in Des Plaines, Chicago in 1955 and subsequently sold 18 more in the first year. He collected 1.9% of gross sales and turned in 0.5% of that to the McDonald brothers. He was barely breaking even in this arrangement, until he met Harry Sonnenborne, who encouraged him to lease or purchase the property for all future McDonald franchises. The operators would pay him either a monthly rent or percentage of their gross sales, whichever was greater. Kroc created a 75 page manual outlining the specifics of running a McDonalds to ensure all restaurants had the same cleanliness standards, the same amount of meat in each hamburger, the specifics for cutting and preparing French fries. The McDonald brothers resisted these changes and many arguments ensued. In 1960, Ray Kroc convinced Dick and Mac McDonald to sell the legal rights to him for 2.7 million dollars. At the time of this transaction, the chain had more than 200 restaurants. In 1990, after public outcry concerning cholesterol, McDonalds switched from beef tallow to pure vegetable oil in their french-fries. In 2006, McDonalds began a design Forever Young in all their restaurants using the traditional yellow and red colors and adding olive and sage, using more brick and wood with less plastic. With the vision of two brothers and the marketing strategy of one high school drop out, McDonald Corporation has grown to be the favorite fast food restaurant to millions of customers in more than 100 countries around the world. Business Goals, Objectives and Mission McDonalds S.M.A.R.T objectives Market share objectives Market share can be achieved within a specified period of time if objectives are set accurately Increasing profits objective is to increase profits or percentage of sales for a certain period of time. Survive Current/present hard times the business is in. Growth Business objectives may state growth by 15% year on year for the next 5 years ahead. Increasing brand awareness over a certain period of time. Mission Statement A mission statement is a brief and to point representation of a company or organizations purpose for existence. It is a formal document that states the objectives of a company or organization addressing concept like moral/ethical position of the company, public image, target market, etc. McDonalds Aims and Objectives Having great concerns bout the organizations customers. Being socially responsible for the companys welfare. Serving high standard and quality food with quick and outstanding service all along with great value for money. Maintain a good and friendly environment. McDonalds vision is to be the worlds best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile. McDonalds is known through out the world for their commitment to inclusion and diversity not only with their employees but with their franchises and suppliers. Core Objectives of McDonalds The core objective and mission of McDonalds is to be the worlds premier consumer product organization mainly focusing on convenient fast foods. They practice producing financial rewards to their investors hence providing opportunities for growth and enrichment for their employees, business partners and for the communities in which they operate. They strive for Honesty, Fairness and integrity in everything they do. McDonalds responsibility is to continually improve all aspects of the world in which they operate   environment, social, economic   creating a better tomorrow than today. Their main vision is put into action by a series of programs focusing on environmental stewardship, activities to benefit society and their commitment to building shareholder value by making McDonalds a truly sustainable company. Values and Principles of McDonalds. Core value is customer experience McDonalds is alive because of their customers and they demonstrate their appreciation by providing them with high quality products and services in a clean and welcoming environment, with great value for their money. Commitment to their people the key to their continuous success is them providing opportunity, nurture talent, developing leaders and reward achievement. Through their experience they believe that a team of well trained individuals with diverse backgrounds and experiences, working together in an environment that fosters respect and drives high levels of engagement. Believing in the McDonalds system their foundation is based on their business model depicted by the three-legged stool of owner/operators, suppliers and the employees and their balance of interest among the three group is key. Operation of business ethically At McDonalds, business is run to high standards of fairness, honesty and integrity, individually being accountable and collectively responsible. Giving back to their communities They help their customers build better communities, support Ronald McDonald House Charities, scope and resources to help make the world a better place. Growing the business profitably As McDonalds is a publicly traded company, they work continuously to provide sustained profitable growth for their shareholders. Continuously striving to improve Through constant evolution and innovation, McDonalds aims to anticipate and respond to changing customer, employee and system needs. Stakeholder Analysis It is a technique adopted by organizations, used to identify and assess the importance of key people, groups of people, or institutions that may significantly influence the success of their activities or projects. This technique can either be used alone or with team members involved. Significance of a Stakeholder Analysis.

Basic Transistor Physics Essay -- physics electronics transistor

The first transistor was demonstrated on Dec. 23, 1947, at Bell Labs by William Shockley. This new invention consisting of P type and N type semiconductive materials (in this case germanium) has completely revolutionized electronics. Transistors quickly replaced vacuum tubes in almost all applications (most notably those in discrete logic). Today when we think of transistors the first thing that comes to mind is computers. Advances in transistor technology and manufacturing processes as well as new materials being used for the semiconductor matrix and wiring have led to smaller, faster, cheaper, lower power transistors. Some of the basic principles behind semiconductor behavior and the restrictions currently faced by modern transistors will be discussed in the following pages. Transistors are composed of a P type (positively doped) and N type (negatively doped) semiconductor material. These P-N junctions are the heart of both BJTs (Bipolar Junction Transistors) and FETs (Field Effect Transistors). BJTs have a physical connection between they current controlling input (base) and the input and output (collector and emitter). This results in a trickle current into the base. FETs have a physical separation between the control (gate) and the input and output (drain and source). BJT and FET transistors are used in virtually every electronic device requiring current regulation or amplification. They make it very easy to precisely control power to a device reliably and with much greater efficiency than other methods. Another common use of transistors is their role in discrete logic. First used in DTL (Diode Transistor Logic) transistors compact nature and high switching speeds lend themselves well to use in logic ICs. In ... ...er clock speed operation than the G4 processor and will include all the latest fabrication developments when released. Processor core voltage for this chip will be as low as 1.2v allowing a higher transistor count with very low power dissipation. Pentium 4 core voltage is in the range of 1.55v. Smaller, faster, cheaper...transistors aren't quite as boring as you thought huh? Bibliography 1. IBM Copper Technoglogy http://www.chips.ibm.com/ 2. AMD http://www.amd.com/ 3. Intel Semiconductor Technology http://www.intel.com/ 4. Motorola PowerPC Division http://www.motorola.com/ 5. Transistor History 101 http://users.arczip.com/rmcgarra1/xstrhist.html 6. Britney's Guide to Semiconductor Physics http://britneyspears.ac/lasers.htm 7. The Mac Address http://www.themacaddress.com/ 8. Electromigration http://www.ifw-dresden.de/ifs/31/gfa/em_e.htm

Music Comparison: Fanny Mendelssohn Hensel and Ludwig Van Beethoven

Music Comparison: Fanny Mendelssohn Hensel and Ludwig van Beethoven Inspired by Ludwig van Beethoven and the ideas of Romanticism, the new group of composers in music were born. One composer, Fanny Mendelssohn Hensel, grew to love composing music, like Beethoven. The child prodigies both delighted in learning and performing music at a young age. Hensel learned music from many different teachers, but Beethoven was taught by more known instructors. Although the two composers both lived in Germany, they created very different compositions.While Hensel and Beethoven have many differences between them, there are also similarities, which are sometimes over looked. Music was always a large part of both Hensel and Beethoven’s lives, beginning from when they were children. The composers grew up only four hours away from each other, yet in both households, they were composing music at a young age. The first person to teach Beethoven music was his own father. Hensel’s first teache r; her own mother.At the age of twelve, Hensel started writing her own music, while Beethoven was composing by eleven years of age. These composers started writing at a very early age, proving that they are musical geniuses. Considering the many teachers the composers had, it would explain how they could create such beautiful music. Beethoven had many noteworthy teachers while Hensel was taught by many lesser-known, but just as talented, educators. Once Beethoven’s father’s teachings had reached it’s end, he was taught by Gottlob Neefe.Neefe taught mainly the organ and compositions to Beethoven and made a comment saying that â€Å"If he continues like this, he will be, without a doubt, the new Mozart† Although his teachers helped him greatly, Beethoven gave his first performance before any educator had taught him, when he was seven and a half, at Cologne, a large city in Germany. Her parents first taught her what was normally expected from a child, but la ter Hensel was taught by tutors the aspects of music. Some notable teachers that Hensel studied under were Marie Bigot, Ludwig Berger, and Carl Friedrich Zelter.Hensel only performed once in public when she was twelve years old, from memory. Although she was very talented, Hensel’s father demanded that she never play music for a living, but maintain the role of a normal woman in their time. Hensel obeyed her father, but Felix Mendelssohn, her younger brother, was willing to help in her career. Mendelssohn was also musically talented and performed for the courts, sometimes playing Hensel’s works that she composed. Once when Mendelssohn was performing for Queen Victoria, she was very impressed and mentioned that the work â€Å"Italien† was her favorite.Mendelssohn then admitted that that was his sister’s work. Hensel often composed lieders, bagatelles, fugues, preludes, sonatas, and choral and instrumental ensemble music, showing her versatility of music th at she could perform and compose. One of her more famous works; â€Å"Oratorium nach den Bildern der Bibel† was a cantata. Another example of Hensel’s compositions is one of her lieders, â€Å"Swan Song†. Beethoven, though partially deaf in his late twenties or early thirties, composed chamber music, sonatas, symphonies, songs, quartets and more. He was almost completely deaf when Beethoven wrote his third to eighth symphony.Many of Beethoven’s works are more famous than Hensel’s, but his most famous symphonies are the fifth and seventh symphonies. The many works that Hensel and Beethoven wrote were different than each other’s, but Beethoven is often known to help inspire the Romantic period composers. These two composers inspire many others to write and perform music throughout the world. There are many similarities between the two composers, even if Beethoven died only twenty-two years after Hensel was born. The two were great composers an d musicians starting in childhood, increasing their knowledge of music early on. Though, they did not learn on their own.Many different teachers, composers, and musicians taught and influenced Hensel and Beethoven. These composers prospered greatly in their careers, expanding their knowledge more every day. Although Hensel and Beethoven have passed on, they will both leave a great footprint on music for generations to come. References Anonymous(n. d. ) Music History: Resource Center. Retrieved from http://academic. cengage. com/music/book_content/049557273X_wrightSimms_DEMO/index. html Anonymous(n. d. ) Facts about Beethoven. Retrieved from http://www. buzzle. com/articles/facts-about-beethoven. html Anonymous(n. d. ) Fanny Mendelssohn Hensel, 1805-1847.Retrieved from http://lcweb2. loc. gov/diglib/ihas/loc. natlib. ihas. 200156440/default. html Anonymous(n. d. ) Biography: Beethoven’s Life. Retrieved from http://www. lvbeethoven. com/Bio/BiographyLudwig. html Estrella, E. (n . d. ) Profile of Fanny Mendelssohn Hensel. Retrieved from http://musiced. about. com/od/famousmusicians1/p/fmendelssohn. htm? rd=1 Estrella, E. (n. d. ) Profile of Ludwig van Beethoven. Retrieved from http://musiced. about. com/od/classicalmusicians/p/beethoven. htm Estrella, E. (n. d. ) Music of the Romantic Period. Retrieved from http://musiced. about. com/od/historyofmusic/a/romanticmusic. htm? rd=1

How to Write a Winning Grant Research Proposal

How to Write a Winning Grant Research Proposal How to Write a Winning Grant Research Proposal How to Contest Contemporary Thinking with Your Grant Research Proposal Grant, in other words funding, is given to individuals, non-profit organizations, charitable companies or educational facilities. A grant proposal is a formal request submitted by the individual willing to gain fund. Writing a good grant proposal is an interesting and a valuable skill. There are a lot of things that should be kept in mind while writing a grant proposal. These are as follows: It is always necessary to check the pros and cons of the proposal for which you are working. The foremost thing is to check the competition in the field. One should be aware of the various sources and ideas for which the grant is to be demanded. It is always good and safe to select a mentor for helping in the formulation of the grant proposal. However, the students who are a part of the proposal should be trained and experienced researchers. Make sure that the proposal should address a well formulated problem that is worth funding. A broad area of interest should be selected by discussing with colleagues, policy makers or community. Skills and knowledge is mandatory for the specific topic that has been selected. The interest and comfort with the topic should be evaluated in the beginning. Before finalizing the grant proposal, make a concept paper or an abstract that reflects your current thinking. This abstract should be shared with colleagues and policy makers to get feedback. After discussing the ideas, one will be able to revise or re-shape the ideas for further improvement. In this way a good and narrow research question can be built. A hypothesis is then made to give an elaboration and insight to the research question. Make sure that the hypothesis should be measurable and testable. The aims and objective of the grant proposal should be reliable, measurable and feasible. The goals must collaborate with the time and money that is being requested in the grant. It is preferable that the researchers, especially the new researchers should not work alone. A project team is preferred to perform the tasks of the proposed project. This will help the new researchers to team up with the collaborators and enhance their experiences and skills. A principle investigator (P.I) or a representative of the project team should be selected so that he/she will be responsible to the funding institute. A short description of the project (abstract) is then formed that represents the importance, need and feasibility of the project. It also contains a brief discussion of all the work including methodology, hypothesis and expected results (outcomes). The background discussion should always be focused on the issues and problems that the research will address. This discussion contains the entire theoretical basis and the explanation of why this study needs to be done. The proper handling of the background discussion will enhance the acceptability of the grant. The underlying methods behind the plan should be sound and feasible. As well, these methods should collaborate with the specific objectives of the grant proposal. If a person is just beginning as an independent investigator, he/she should not apply for a large grant at first hand but complete a good small project with relatively small amount of money and establish a good track record before applying for a larger research grant. If you need professional grant proposal help from academic experts, contact our custom writing company and we will help you immediately.